NACL Industries Limited has informed the Exchange about change in Management control
NACLIND · price
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Coromandel International Limited (CIL), part of the Murugappa Group, has completed the acquisition of a 53.13% stake (10,68,96,146 equity shares) in NACL Industries Limited through three Share Purchase Agreements dated March 12, 2025, with the closing date being August 8, 2025. CIL has now become the new promoter of NACL Industries, and the erstwhile promoters (KLR Products, K. Lakshmi Raju, and Bright Town Investment Advisor) will be reclassified as public shareholders. The board was reconstituted with Dr. Raghuram Devarakonda appointed as the new Managing Director & CEO, alongside several new directors from the Coromandel/Murugappa ecosystem. Ten existing directors, including the former Chairperson K. Lakshmi Raju, have resigned. Additionally, statutory auditor B S R & Co. stepped down citing independence concerns post the ownership change, and S. R. Batliboi & Associates LLP was appointed as the new statutory auditor.
This is a major change of control event that brings NACL Industries under the umbrella of the larger Murugappa Group, potentially enabling operational synergies, stronger financial backing, and strategic alignment in the agrochemical and crop protection space. Shareholders should expect potential long-term value creation through integration with Coromandel, though short-term stock price volatility is possible around the control change.